V.F. (NYSE:VFC) Posts Quarterly Earnings Results

V.F. (NYSE:VFCGet Rating) issued its earnings results on Tuesday. The textile maker reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03, Briefing.com reports. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.72 billion. V.F. had a net margin of 1.02% and a return on equity of 25.10%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS. V.F. updated its FY24 guidance to $2.05-2.25 EPS.

V.F. Stock Performance

Shares of VFC traded down $0.40 during mid-day trading on Thursday, reaching $17.95. The company’s stock had a trading volume of 3,951,750 shares, compared to its average volume of 7,743,813. V.F. has a 1-year low of $17.92 and a 1-year high of $51.40. The stock has a market cap of $6.98 billion, a P/E ratio of 59.20, a PEG ratio of 2.78 and a beta of 1.44. The business has a 50-day simple moving average of $21.61 and a two-hundred day simple moving average of $26.08. The company has a current ratio of 1.15, a quick ratio of 0.58 and a debt-to-equity ratio of 1.39.

V.F. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Monday, June 12th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, June 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.69%. V.F.’s payout ratio is 387.11%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on VFC shares. Barclays decreased their price target on shares of V.F. from $26.00 to $20.00 in a report on Thursday. Citigroup decreased their price target on shares of V.F. from $22.00 to $20.00 in a report on Wednesday. Piper Sandler started coverage on shares of V.F. in a report on Tuesday, April 25th. They issued an “overweight” rating for the company. Edward Jones raised shares of V.F. from a “hold” rating to a “buy” rating in a report on Thursday, April 13th. Finally, StockNews.com lowered shares of V.F. from a “hold” rating to a “sell” rating in a report on Saturday, May 20th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, V.F. currently has an average rating of “Hold” and an average price target of $28.42.

Insider Activity

In other news, Director Carol L. Roberts purchased 7,109 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The stock was acquired at an average cost of $21.07 per share, with a total value of $149,786.63. Following the acquisition, the director now owns 7,109 shares in the company, valued at approximately $149,786.63. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.90% of the company’s stock.

Institutional Trading of V.F.

Hedge funds have recently added to or reduced their stakes in the company. Chilton Capital Management LLC acquired a new position in V.F. in the 1st quarter valued at $46,000. Point72 Hong Kong Ltd raised its holdings in V.F. by 106.9% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,131 shares of the textile maker’s stock valued at $64,000 after acquiring an additional 17,451 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new position in shares of V.F. in the 4th quarter valued at $67,000. Money Concepts Capital Corp increased its stake in shares of V.F. by 1,224.2% in the 4th quarter. Money Concepts Capital Corp now owns 2,794 shares of the textile maker’s stock valued at $77,000 after purchasing an additional 2,583 shares during the last quarter. Finally, CENTRAL TRUST Co increased its stake in shares of V.F. by 29.2% in the 3rd quarter. CENTRAL TRUST Co now owns 5,175 shares of the textile maker’s stock valued at $154,000 after purchasing an additional 1,170 shares during the last quarter. 96.89% of the stock is owned by institutional investors and hedge funds.

V.F. Company Profile

(Get Rating)

VF Corp. designs, produces, procures, markets and distributes lifestyle apparel, footwear and related products. It operates through the following segments: Outdoor, Active, and Work. The Outdoor segment refers to authentic outdoor-based lifestyle brands including performance-based apparel, footwear, equipment, backpacks, luggage and accessories.

See Also

Earnings History for V.F. (NYSE:VFC)

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